Case Study

Transforming Cash Application Process for US-based Energy Company

 

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Overview

ContactPoint360 played a key role in improving the accounts receivables for a major US energy company through its outsourced accounts receivable services. After the recent acquisition, the energy enterprise had issues with recovering from bad debt, cash application processes, and booting collection recoveries. Additionally, their team was facing major roadblocks to meet audit requirements, SLAs and KPIs.

The team at ContactPoint360, with 15+ years of experience, helped the US-based energy firm to:

Reconstruct the team

Streamline collection workflows

Reduce credit balances by 91.4%

Pull roll rates backward

Adhere to payment SLAs by 99.8%

This case highlights the transformed financial operations for the energy sector. To learn more, Download the full case study.

Challenges

Inefficient collections reporting

Underperforming collections department

Lack of intelligent segmentation

Balance discrepancies and low CSAT

Non-compliance to audit needs, KPIs, and SLAs

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Result That We Provided

The implementation of our solution led to substantial improvement in KPIs, demonstrating measurable results:

%

reduction in credit balance

%

decrease in disputed accounts

%

reduction in third-party costs

%

Payments SLA

added to debt pool

%

reduction in 60-90 days roll rate

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